Fortive Corporation (NYSE:FTV) Given Average Rating of “Hold” by Brokerages

Shares of Fortive Corporation (NYSE:FTV) have been given an average recommendation of “Hold” by the fifteen brokerages that are presently covering the firm, Marketbeat.com reports. Two analysts have rated the stock with a sell recommendation, eleven have given a hold recommendation and two have assigned a buy recommendation to the company. The average 12 month price target among analysts that have covered the stock in the last year is $57.7692.

A number of research firms recently weighed in on FTV. JPMorgan Chase & Co. reissued an “underweight” rating and issued a $57.00 target price (up from $55.00) on shares of Fortive in a report on Friday, January 16th. Barclays increased their price objective on shares of Fortive from $54.00 to $56.00 and gave the company an “equal weight” rating in a research report on Thursday, October 30th. Robert W. Baird upped their target price on shares of Fortive from $57.00 to $58.00 and gave the company an “outperform” rating in a research report on Tuesday, November 4th. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Fortive in a report on Monday, December 29th. Finally, Citigroup lifted their price target on Fortive from $57.00 to $59.00 and gave the stock a “neutral” rating in a research report on Monday, December 8th.

Institutional Investors Weigh In On Fortive

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Assenagon Asset Management S.A. grew its stake in Fortive by 56.2% in the third quarter. Assenagon Asset Management S.A. now owns 77,550 shares of the technology company’s stock valued at $3,799,000 after purchasing an additional 27,908 shares during the last quarter. Voya Investment Management LLC boosted its holdings in shares of Fortive by 14.0% in the 3rd quarter. Voya Investment Management LLC now owns 507,055 shares of the technology company’s stock valued at $24,841,000 after buying an additional 62,127 shares in the last quarter. Whittier Trust Co. grew its position in shares of Fortive by 6.8% in the 2nd quarter. Whittier Trust Co. now owns 354,784 shares of the technology company’s stock worth $18,494,000 after buying an additional 22,443 shares during the last quarter. Brookstone Capital Management raised its stake in shares of Fortive by 49.8% during the 3rd quarter. Brookstone Capital Management now owns 76,393 shares of the technology company’s stock worth $3,742,000 after acquiring an additional 25,397 shares in the last quarter. Finally, State Street Corp lifted its position in Fortive by 0.7% during the second quarter. State Street Corp now owns 14,157,168 shares of the technology company’s stock valued at $738,013,000 after acquiring an additional 92,222 shares during the last quarter. Hedge funds and other institutional investors own 94.94% of the company’s stock.

Fortive Stock Performance

NYSE FTV opened at $53.71 on Thursday. The company has a debt-to-equity ratio of 0.33, a current ratio of 0.70 and a quick ratio of 0.58. Fortive has a 1-year low of $46.34 and a 1-year high of $83.32. The business has a 50 day simple moving average of $54.48 and a two-hundred day simple moving average of $51.09. The stock has a market capitalization of $17.06 billion, a PE ratio of 30.69, a P/E/G ratio of 2.96 and a beta of 1.12.

Fortive Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, December 26th. Investors of record on Friday, November 28th were issued a dividend of $0.06 per share. This represents a $0.24 annualized dividend and a yield of 0.4%. The ex-dividend date was Friday, November 28th. Fortive’s dividend payout ratio is presently 13.71%.

About Fortive

Fortive Corporation (NYSE: FTV) is a diversified industrial technology company headquartered in Everett, Washington. The company was created through a spin?off from Danaher Corporation in 2016 and has since focused on building a portfolio of professional instrumentation and industrial technology businesses. In 2020 Fortive completed a further portfolio separation with the spin?off of Vontier, concentrating Fortive’s activities on higher?margin instrumentation, software and services.

Fortive’s operations center on professional test and measurement, sensing and monitoring, software?enabled solutions, and lifecycle services that support industrial and commercial customers.